Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 12-Month Low – Time to Sell?

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) hit a new 52-week low during trading on Tuesday . The company traded as low as C$32.20 and last traded at C$32.20, with a volume of 383926 shares changing hands. The stock had previously closed at C$32.91.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Canadian Imperial Bank of Commerce reduced their target price on shares of Canadian Apartment Properties REIT from C$45.00 to C$40.00 in a research report on Monday, August 10th. TD decreased their target price on shares of Canadian Apartment Properties REIT from C$46.00 to C$45.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, ATB Cormark Capital Markets lowered their target price on shares of Canadian Apartment Properties REIT from C$48.00 to C$43.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$45.31.

Canadian Apartment Properties REIT Price Performance

The stock has a market capitalization of C$4.91 billion, a PE ratio of -37.07, a PEG ratio of -10.12 and a beta of 0.74. The firm’s fifty day moving average price is C$34.40 and its two-hundred day moving average price is C$35.37. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT (TSE:CAR.UN) last posted its earnings results on Thursday, August 6th. The company reported C($0.42) EPS for the quarter. The company had revenue of C$246.41 million during the quarter. Canadian Apartment Properties REIT had a negative return on equity of 1.08% and a negative net margin of 4.95%.

About Canadian Apartment Properties REIT

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities. Most of CAPREIT’s holdings are aimed towards the midtier and luxury markets in terms of demographic segments. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants.